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2011 (4) TMI 1201 - HIGH COURT OF MADRASScheme of amalgamation - issue of filing fee already paid by the transferor companies on their authorized share capital - Objections by the Regional Director, Ministry of Corporate Affairs, Chennai - issue of filing fee already paid by the transferor companies on their authorized share capital - held that:- this objection cannot be sustained, in view of the law, laid down by the Hon'ble division bench of this court, in the case of Regional Director, Ministry of Co. Affairs v. Cavin Plastics and Chemicals (P.) Ltd. (2007 (11) TMI 412 (HC)) As per the report of the chartered accountants that they have not come across any act of misfeasance by the directors, which would attract the provision of sections 542/543 of the Companies Act, 1956. Nor the affairs of the transferor company have been conducted in a manner prejudicial to the interest of its members or public interest. There is no objection by the official liquidator to the scheme and the scheme be beneficial to the company and its members. Consequently, the company petition is conditionally ordered, subject to sanctioning of the scheme of amalgamation by the Hon'ble Calcutta High Court, on the petition filed or to be filed by the transferee company.
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